37 Section 36: interpretation
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

37  Section 36: interpretation

(1)     This section has effect for the interpretation of section 36.

(2)     “Financial institution” means a UK institution which—

(a)     meets condition A or B, and

(b)     is not an insurer or a credit union.

(3)     Condition A is that it has permission under Part 4A of FSMA 2000 to carry on the regulated activity of accepting deposits.

(4)     Condition B is that—

(a)     it is for the purposes of FSMA 2000 an investment firm (see section 424A of that Act),

(b)     it has permission under Part 4A of that Act to carry on the regulated activity of dealing in investments as principal, and

(c)     when carried on by it, that activity is a PRA-regulated activity.

(5)     In subsection (2)—

(a)

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